17 April 2016
hello all
one of our client have started coaching classes and the have also tied up with a school under which school will introduce a compulsory subject of Vedic maths for which our client will get Rs.70 per students for 800 students.
now i want to know what will be the income tax liablity of our client? whether tds will be deducted? under which section? can we claim refund? what are the limits?
18 April 2016
Income tax liability as same as per slab given by income tax dept. yes if attract tds then deduction u/s 194J possible. you can claim refund as per your client category.
CAclubindia
